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Rainmaker
634,116
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

One definition of value is "Whatever someone is willing to pay for it." And that may be very different from its price.

Mar 25, 2015 10:20 AM
Rainmaker
784,946
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Yes, some properties are worth more to one person than they are to others. Could be commute, school district, closeness to relatives, etc, etc which could add value in ways other than price.

Mar 25, 2015 08:51 AM
Rainmaker
4,870,070
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jesse,

Big dilemna, it has the whole luxury industry in knots trying to figure it out.  A

Mar 25, 2015 08:49 AM
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920,990
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

This question reminds me of "you get what you pay for".  Nearly everything has a price.  There are far fewer things that have value.

Mar 25, 2015 08:49 AM
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4,704,815
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Often there is.

Jan 08, 2020 11:00 PM
Rainmaker
629,751
Ajay Pandya
e-Merge Real Estate - Columbus, OH
Realtor Ajay Pandya

Of course!

Mar 18, 2018 09:18 AM
Rainmaker
315,637
Robert Smith
Preview Properties, PC - http://www.RealEstateMich.com - Brighton, MI
SRES, Search for Homes Brighton-Howell-SE Michigan

Basically, 'value' means a 'fair return' (for the price paid), at least for goods. 

That being said, I had no value for a $0.99 wrench that I once bought and broke on the first use.  The $9.99 wrench that replaced it is still in my toolbox 4 decades later. I upvoted your answer, John Meussner

Mar 25, 2015 11:53 PM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Well, I'll say this quote, Jesse Castro -

"Price is the issue in the absence of Value!"

(Provide the value - if the home has something unique, price will automatically be RIGHT - read Bob Crane 's recent post on that.)

Mar 25, 2015 02:48 PM
Rainmaker
379,394
Jill Murty, Realtor - Orange County, CA
Sunset Properties, Powered by Movoto - Laguna Niguel, CA

There's a difference between price and value as well as a correlation.

My husband and I are value buyers.  If we believe we are receiving a good value for the price, we proceed.  Price alone does not guarantee a sale, at least for us.

Mar 25, 2015 09:14 AM